In recent years, livestreaming e-commerce has attracted consumers' attention through more vivid and lively product demonstrations and interactive shopping experiences. It has also encouraged spending by offering heavy discounts. Major e-commerce players have been operating in the live-streaming e-commerce market. After several years of development, livestreaming e-commerce has become a new driver of consumption and a strong booster of the domestic economy. It has achieved explosive growth with the support of preferential policies from local governments.
Online shopping surged during the pandemic and therefore many traditional businesses moved or expanded their operations online, which has further driven the development of livestreaming e-commerce. According to data from the Ministry of Commerce, in 2020, China's major e-commerce platforms have hosted over 24 million livestreaming events, and the market size of the industry has reached around one trillion yuan.
This report presents an overview of the recent developments of the livestreaming e-commerce market, introduces the current industry landscape and players, discusses insights for brands and businesses, and forecasts future development trends of the industry.
The content of this report is based on Blue Book of China's Commercial Sector (2021-2022) (in Chinese), which identifies major macro trends in China's commercial sector, calls for further developing the circulation sector and provides a comprehensive and authoritative account of the latest trends and issues. For other reports of the Bluebook Series, please click here.